Murphy USA (MUSA) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Murphy USA published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Murphy USA's revenue includes excise taxes: $628.3 million in Q3 2026 and $613.9 million in Q3 2025, inside petroleum product sales.
• Murphy USA does not report an adjusted EPS figure. Its main non-GAAP measure is Adjusted EBITDA ($336.6 million in Q3 2026).

Source: Murphy USA Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Murphy USA splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Murphy USA's Petroleum product sales revenue was $5.6 billion in Q3 2026, up 43% from $3.9 billion in Q3 2025, 81% of total revenue.
• Murphy USA's Merchandise sales revenue was $1.2 billion in Q3 2026, up 3% from $1.1 billion in Q3 2025, 17% of total revenue.
• Murphy USA's Other operating revenues revenue was $136 million in Q3 2026, up 115% from $63.0 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total operating revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Murphy USA's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Murphy USA's revenue is mostly fuel. Petroleum product sales were $5,599.1 million of $6,889.7 million in total operating revenues in Q3 2026, merchandise sales $1,155.0 million and other operating revenues $135.6 million. Other operating revenues include RINs (renewable fuel credits), which brought in $134.5 million, against $61.7 million a year earlier. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

Murphy USA said revenues rose 34.8% mainly because the average retail fuel sales price rose 35.5%, together with 3.3% higher retail fuel volumes, higher fuel supply revenues and a 2.9% increase in merchandise sales revenue. Because revenue moves with pump prices, Murphy USA measures the fuel business in contribution per gallon: total fuel contribution was 37.0 cpg, against 30.7 cpg, while the retail fuel margin alone fell to 27.4 cpg from 28.3 cpg. (Murphy USA Form 10-Q, Q3 2026, Oct 30, 2026; Murphy USA Q3 2026 earnings release, Oct 28, 2026)

Merchandise contribution fell 2.8% to $234.5 million as the unit margin dropped to 20.3% from 21.5%. Nicotine contribution dollars fell 8.0% and non-nicotine contribution rose 3.1%; Murphy USA said the Q3 2025 quarter contained a significant nicotine pouch promotion that did not repeat. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

Murphy USA had 1,808 stores at September 30, 2026: 1,662 Murphy USA and Murphy Express stores and 146 QuickChek stores, with 53 under construction. The 10-K says the majority of its stores sit near Walmart stores, across 25 states in the Southeast, Southwest and Midwest, and QuickChek operates in New Jersey and New York. (Murphy USA Q3 2026 earnings release, Oct 28, 2026; Murphy USA Form 10-K, 2025, Feb 18, 2026)

Murphy USA reports GAAP EPS only. Diluted EPS rose to $9.59 from $6.76 as net income rose to $176.0 million from $129.9 million. Murphy USA attributed the gain mainly to higher total fuel contribution, from stronger fuel supply results and higher retail volumes, and to the absence of the $12.6 million of restructuring expense booked in Q3 2025. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

Store and other operating expenses rose $32.0 million to $317.9 million, and Murphy USA said higher payment fees, which rise with retail fuel prices, accounted for approximately three-fourths of the increase. The effective income tax rate was approximately 24.6%, against 25.1% a year earlier. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

Diluted average shares fell to 18,360 thousand from 19,232 thousand. Murphy USA repurchased 287,102 shares for approximately $157.7 million in the quarter, completing its $1.5 billion 2023 authorization, and virtually all of its $2.0 billion 2025 authorization remained available. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Murphy USA does not publish a revenue or earnings outlook in its earnings release. For Q3 2026 it issued separate management commentary on its investor relations website on October 28, 2026 and held a question and answer session the next day. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

On October 22, 2026 Murphy USA declared a quarterly dividend of $0.72 per share, $2.88 annualized, an increase of 11% from the Q3 2026 dividend of $0.65, payable on December 1, 2026. (Murphy USA Q3 2026 earnings release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Murphy USA, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Murphy USA's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MUSA is on is MUSA a buy or a sell?, what analysts expect next is on the MUSA forecast, and what the company does is on the Murphy USA (MUSA) stock page.

Every number on this page can be traced to a document Murphy USA published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.